Yamada Denki Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥4.45 per share, a decrease of 71.1% from ¥15.39 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.36 billion, a decrease of 75.6% from ¥13.77 billion in the year-earlier period.

The normalized profit margin declined to 0.8% from 2.6% in the year-earlier period.

Total revenue declined 22.4% on an annual basis to ¥415.58 billion from ¥535.67 billion, and total operating expenses fell 19.6% from the prior-year period to ¥414.46 billion from ¥515.25 billion.

Reported net income came to a loss of ¥4.69 billion, or a loss of ¥6.21 per share, compared to income of ¥12.31 billion, or ¥13.76 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥28.96 per share, a fall of 11.1% from ¥32.56 per share in the prior year.

Normalized net income was ¥23.07 billion, a decline of 23.3% from ¥30.07 billion in the prior year.

Full-year total revenue declined 12.1% from the prior-year period to ¥1.664 trillion from ¥1.894 trillion, and total operating expenses declined 11.5% on an annual basis to ¥1.645 trillion from ¥1.860 trillion.

The company said reported net income declined 50.0% year over year to ¥9.34 billion, or ¥11.72 per share, in the full year, from ¥18.66 billion, or ¥20.21 per share.

As of June 26, US$1 was equivalent to ¥123.96.